Dorchester Multi-Family Homes

More than 6 square miles in area, Dorchester is the largest neighborhood in Boston, and it's even older than the city of Boston proper. In fact, it's so large that it's divided into many smaller neighborhoods, some of which are famous in themselves: Ashmont, Jones Hill, Savin Hill, and so on. The MBTA Red Line services Dorchester, and among the area's many worthwhile attractions are the Franklin Park Zoo, the John F. Kennedy Library and Museum, and the Pope John Paul Park. The James Blake House, which is Massachusetts' oldest private residence, is also located in Dorchester.

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Dorchester is notable, among many other things, for its many multi-family homes. In fact, for decades, they've really been a backbone of the community, and countless people fondly recall growing up in them. These buildings come in a range of styles, including stately Victorian manors, graceful duplexes, and apartment buildings that vary widely in size. Among the latter group, the largest is the well-known Harbor Point development. In a few sections of Dorchester ― Columbia Point is one of them ― there are multi-unit buildings that are situated on the water.

Dorchester's triple-deckers are particularly special as they contribute greatly to the flavor and character of Boston. By 2009 or so, however, some of them had fallen on hard times. Many triple-decker landlords lived far away and did not maintain them properly, and their foreclosure rates were high during the recession. But these homes are now booming. Thanks to government subsidies and a spate of concerned investors, so many of those buildings and the streets on which they stand ― Hendry Street is a perfect example ― have been completely revitalized, and the edifices look as good as new. Therefore, they make excellent investments; residents really appreciate living in those beloved local landmarks.

Known for being the largest neighborhood in Boston, Dorchester is also one of the area's oldest regions. Within this area, investors will find smaller neighborhoods like Jones Hill, Ashmont and Saving Hill. Renters are drawn to the neighborhood because of the MBTA Red Line and attractions like the Pope John Paul Park.

Spanning six square miles in size, this neighborhood is home to many multi-unit homes. Over the years, Dorchester has actually become known for these properties. Unlike some neighborhoods, multi-unit properties are actually the backbone of the neighborhood.

Residents can find unique rentals like Victorian manors and traditional apartment complexes. The community includes elegant duplexes and triple-deckers. During the recession, the triple-deckers fell into disrepair and had a higher than average foreclosure rate. Investors have moved in to purchase these properties, but there are still a number of good deals available.

For luxury properties, residents can check out areas like Columbia Point where the units are placed on the waterfront. The largest apartment building in the area is the Harbor Point development. Smaller rental properties are readily found. These homes offer everything from historic edifices to luxury amenities.

While Dorchester still has lower prices than many sections of Boston, real estate prices have been growing quickly in the last few years. Right now, the typical home sells for $460,000. The median sales price has risen $80,000 from a starting value of $380,000 last year. During the same time period, the average price per square foot has increased from $320 to $384.

Growing real estate prices mean that now is a better time to invest than in the future. These multi-unit homes are still affordable compared to the rest of Boston, and investors can expect a steady return on their investment. To find out all of the investment options available in Dorchester and start your investing journey, call Boston City Properties today.

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